Answered

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Nancy deposits $2500 into an investing account that pays 6. 1% annual interest compounded quarterly. What will be the balance

after 10 years? Round to the nearest cent

Sagot :

snrichards08

Answer:

Step-by-step explanation:

i = prt (interest = principal x rate x time)

i = 2500 x 0.061 x 10

i = $1525 interest

balance = principle + interest

balance = 2500 + 1525

balance = $4025 balance

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